ORIGIN PROPERTY |
End-of-day quote
Other stock markets
|
5-day change | 1st Jan Change | ||
| 6.15 THB | +0.82% |
|
+0.82% | -27.22% |
| 05-15 | Origin Property Public Company Limited Reports Earnings Results for the First Quarter Ended March 31, 2024 | CI |
| 03-04 | Origin Property Public Company Limited Announces Management Changes | CI |
Valuation
| Fiscal Period: December | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Capitalization 1 | 17,170 | 18,519 | 27,717 | 29,695 | 20,737 | 15,093 | - | - |
| Enterprise Value (EV) 1 | 31,894 | 33,869 | 41,224 | 49,357 | 20,737 | 35,155 | 37,011 | 15,093 |
| P/E ratio | 5.67 x | 6.96 x | 8.68 x | 7.87 x | 7.63 x | 6.09 x | 5.13 x | 5.51 x |
| Yield | 7.29% | 6.49% | 4.78% | 5.95% | - | 5.85% | 7.75% | 7.48% |
| Capitalization / Revenue | 1.3 x | 1.88 x | 1.82 x | 2.23 x | 1.5 x | 1.14 x | 0.92 x | 0.89 x |
| EV / Revenue | 2.42 x | 3.43 x | 2.7 x | 3.7 x | 1.5 x | 2.67 x | 2.26 x | 0.89 x |
| EV / EBITDA | 8.92 x | 11.4 x | 10.1 x | 11.7 x | 5.72 x | 9.51 x | 8.72 x | 3.49 x |
| EV / FCF | -10.9 x | 162 x | 91.1 x | -6.93 x | - | 7.72 x | 15.2 x | 7.12 x |
| FCF Yield | -9.16% | 0.62% | 1.1% | -14.4% | - | 13% | 6.57% | 14% |
| Price to Book | 1.57 x | 1.63 x | 1.86 x | 1.64 x | - | 0.75 x | 0.68 x | 0.64 x |
| Nbr of stocks (in thousands) | 2,452,862 | 2,452,862 | 2,452,862 | 2,454,122 | 2,454,122 | 2,454,122 | - | - |
| Reference price 2 | 7.000 | 7.550 | 11.30 | 12.10 | 8.450 | 6.150 | 6.150 | 6.150 |
| Announcement Date | 2/27/20 | 3/1/21 | 2/28/22 | 2/28/23 | 2/29/24 | - | - | - |
1THB in Million2THB
Estimates
Income Statement Evolution (Annual data)
| Fiscal Period: December | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Net sales 1 | 13,197 | 9,870 | 15,260 | 13,341 | 13,866 | 13,186 | 16,381 | 16,978 |
| EBITDA 1 | 3,576 | 2,968 | 4,080 | 4,227 | 3,627 | 3,696 | 4,247 | 4,319 |
| EBIT 1 | 3,457 | 2,803 | 3,897 | 3,928 | 3,106 | 2,786 | 3,410 | 3,647 |
| Operating Margin | 26.2% | 28.4% | 25.54% | 29.44% | 22.4% | 21.13% | 20.81% | 21.48% |
| Earnings before Tax (EBT) 1 | 3,989 | 3,325 | 4,242 | 5,159 | 3,968 | 3,388 | 3,919 | 4,002 |
| Net income 1 | 3,027 | 2,662 | 3,194 | 3,775 | 2,718 | 2,452 | 2,895 | 2,791 |
| Net margin | 22.94% | 26.97% | 20.93% | 28.29% | 19.6% | 18.59% | 17.67% | 16.44% |
| EPS 2 | 1.235 | 1.085 | 1.302 | 1.538 | 1.108 | 1.010 | 1.200 | 1.117 |
| Free Cash Flow 1 | -2,921 | 209.5 | 452.7 | -7,124 | - | 4,554 | 2,431 | 2,120 |
| FCF margin | -22.13% | 2.12% | 2.97% | -53.4% | - | 34.54% | 14.84% | 12.49% |
| FCF Conversion (EBITDA) | - | 7.06% | 11.1% | - | - | 123.2% | 57.25% | 49.1% |
| FCF Conversion (Net income) | - | 7.87% | 14.17% | - | - | 185.74% | 83.98% | 75.96% |
| Dividend per Share 2 | 0.5100 | 0.4900 | 0.5400 | 0.7200 | - | 0.3600 | 0.4767 | 0.4600 |
| Announcement Date | 2/27/20 | 3/1/21 | 2/28/22 | 2/28/23 | 2/29/24 | - | - | - |
1THB in Million2THB
Estimates
Income Statement Evolution (Quarterly data)
| Fiscal Period: December | 2021 S1 | 2021 Q4 | 2022 Q1 | 2022 Q2 | 2022 Q3 | 2022 Q4 | 2023 Q1 | 2023 Q2 | 2023 S1 | 2023 Q3 | 2023 Q4 | 2024 Q1 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Net sales 1 | 7,299 | 3,945 | 3,473 | 3,481 | 3,649 | 3,430 | 3,100 | 3,363 | 6,904 | 4,785 | 2,240 | 2,739 |
| EBITDA 1 | 2,025 | 1,062 | 919.5 | - | 1,142 | 1,207 | 1,264 | 1,171 | 2,435 | 1,337 | -56.74 | 805.9 |
| EBIT 1 | 1,937 | 1,011 | 877.2 | 883.5 | 1,066 | 1,101 | 1,175 | 1,063 | 2,238 | 1,219 | -263.2 | 640.1 |
| Operating Margin | 26.53% | 25.63% | 25.26% | 25.38% | 29.21% | 32.09% | 37.91% | 31.61% | 32.42% | 25.48% | -11.75% | 23.37% |
| Earnings before Tax (EBT) 1 | 1,793 | 1,066 | 1,064 | 1,502 | 1,216 | 1,417 | 1,178 | 1,277 | 2,455 | 1,378 | 135.2 | 957.8 |
| Net income 1 | 1,677 | 807.8 | 737.9 | 1,155 | 847.9 | 1,033 | 797.8 | 873.1 | 1,671 | 1,000 | 46.89 | 464.1 |
| Net margin | 22.98% | 20.48% | 21.25% | 33.18% | 23.24% | 30.13% | 25.74% | 25.96% | 24.2% | 20.91% | 2.09% | 16.95% |
| EPS | - | 0.3293 | - | 0.4708 | 0.3455 | 0.4210 | 0.3251 | 0.3558 | - | 0.4076 | - | - |
| Dividend per Share | - | - | - | - | - | - | - | - | - | - | - | - |
| Announcement Date | 8/11/21 | 2/28/22 | 5/12/22 | 8/15/22 | 11/14/22 | 2/28/23 | 5/15/23 | 8/15/23 | 8/15/23 | 11/14/23 | 2/29/24 | 5/15/24 |
1THB in Million
Estimates
Balance Sheet Analysis
| Fiscal Period: December | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Net Debt 1 | 14,724 | 15,350 | 13,506 | 19,662 | - | 20,062 | 21,918 | - |
| Net Cash position 1 | - | - | - | - | - | - | - | - |
| Leverage (Debt/EBITDA) | 4.117 x | 5.171 x | 3.311 x | 4.651 x | - | 5.428 x | 5.161 x | - |
| Free Cash Flow 1 | -2,921 | 209 | 453 | -7,124 | - | 4,554 | 2,431 | 2,120 |
| ROE (net income / shareholders' equity) | 35.4% | 25.3% | 24.2% | 22.8% | - | 12.5% | 13.4% | 12.3% |
| ROA (Net income/ Total Assets) | 10.2% | 8.09% | 7.05% | 9.04% | - | 4.79% | 5.3% | 5.5% |
| Assets 1 | 29,641 | 32,886 | 45,304 | 41,744 | - | 51,184 | 54,624 | 50,751 |
| Book Value Per Share 2 | 4.460 | 4.640 | 6.090 | 7.390 | - | 8.250 | 9.030 | 9.650 |
| Cash Flow per Share 2 | 1.720 | 1.220 | 0.2900 | -1.470 | - | 1.090 | 1.320 | 1.280 |
| Capex 1 | 1,216 | 255 | 257 | 701 | - | 1,026 | 1,113 | 1,478 |
| Capex / Sales | 9.21% | 2.58% | 1.68% | 5.26% | - | 7.78% | 6.79% | 8.71% |
| Announcement Date | 2/27/20 | 3/1/21 | 2/28/22 | 2/28/23 | 2/29/24 | - | - | - |
1THB in Million2THB
Estimates
EPS & Dividend
Year-on-year evolution of the PER
Year-on-year evolution of the Yield
Change in Enterprise Value/EBITDA
Trading Rating
Investor Rating
ESG Refinitiv
C+
Sell
Buy
Mean consensus
OUTPERFORM
Number of Analysts
7
Last Close Price
6.15
THB
Average target price
7.683
THB
Spread / Average Target
+24.92%
EPS Revisions
| 1st Jan change | Capi. | |
|---|---|---|
| -27.22% | 414M | |
| +3.29% | 26.33B | |
| -12.24% | 13.96B | |
| +12.55% | 10.98B | |
| -24.06% | 7.97B | |
| +8.07% | 7.03B | |
| -6.37% | 6.99B | |
| +4.71% | 6.85B | |
| -2.23% | 3.69B | |
| +10.47% | 3.52B |
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